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Syberian-Urals Aluminum Company

November 2, 2004

SUAL Group's social partnership agreement continues to gain momentum

During a meeting of the Social Partnership's Co-ordinating Committee in Krasnoturyinsk, Sverdlovsk Region, new members were appointed to the Committee and the results of the corporate pension system for the previous year were reviewed. A progress report relating to the social-economic development programme being implemented in SUAL's operating regions was also studied. During the meeting, issues relating to the development of civil initiatives; the role of non-profit organisations: and local community funds were discussed.

Members of the Co-ordinating Committee reviewed the results and the Committee is satisfied with the 2003-2004 performance of SUAL’s and Renova’s corporate pension system. Total amount of pension savings to 1 October 2004 amounted to 300 mln. rubles. Members of the Co-ordinating Committee emphasised the importance of the corporate pension system for municipal communities and recommended that the aims of the system for territorial development continue to be sought.

Members of the Committee looked at possible approaches to assist social and economic development of municipal communities in the regions of SUAL’s operating locations. All participants supported the work undertaken by experts assisting the SUAL Group and USAID's (United States Agency for International Development) joint initiative, based on the results of the fourth meeting of the Co-ordinating Committee, that took place on 30 July 2003. This long-term programme is aimed at assisting local authorities to reform financial and inter-budget relations; develop and implement programmes to stimulate the growth of the small and middle size enterprise sector; promote civil society and support systematic charity activities; and ensure that targeted programmes within the health, energy and environmental sectors are undertaken.

Participants also considered the use of local societies' funds, as well as non-profit organisations, as effective suppliers of socially valuable services (education, health support etc….). The Committee advised heads of the local municipal communities to examine the possibility of attracting potential contributors and establishing local community funds during 2005.

OAO Timan Bauxite and ZAO Silicon have become new members of the Social Partnership Agreement.

The Social Partnership Agreement

The Social Partnership Agreement, which focuses on the social-economic programmes of SUAL Group's aluminium plants and the respective municipal communities, was signed on 14 February 2001 in Kamensk-Uralsky city, Sverdlovsk Region. The aim of the agreement is to create a new model of co-operation between local businesses and local municipal authorities, and establish an integrated approach to decision-making regarding the development of projects and policies which are mutually advantageous. As a result, a system has been developed so as to maximise the use of companies' tax and non-tax payments for the benefit of local communities. SUAL Group’s management company and operations, together with the respective local communities, are participants of the Agreement.

SUAL Group

SUAL Group is a vertically integrated business and is among the ten largest aluminium producers in the world. SUAL comprises companies involved in bauxite mining, alumina refining, production of silicon, semi-finished and finished aluminium products.

Annually, the operations of the SUAL Group mine some 4.4 million tonnes of bauxite; refine more than 2 million tonnes of alumina; produce over 890,000 tonnes of primary aluminium; produce more than 50,000 tonnes of silicon; and manufacture more than 110,000 tonnes of aluminium products.




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